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Jan 4, 2013 4:00pm EST
simply on the "closing bell" >> what we need to do in terms of education is look at our government more like a family. our government takes in about $2.2 trillion a year. it spends $3.8 trillion, and it has a $14.3 trillion deficit. let's just take all those zeros away and pretend that our government is a family. so this family earns $22,000 a year. it spends $38,000 a year, and it has a credit card bill of -- or a balance on its credit card of $143,000. >> so should the government manage its finances like most households do to get control of the debt problem? "reason" magazine thinks so but cnbc contributor jared bernstein says there's no way. jared, why not? does it oversimplify is it t? why wouldn't that work? >> yeah, i found that to be oversimplifying and misleading. well, first of all, families and the government are different in a very important and actually keynesian way. when families are tightening their belts because of recession, the government needs to loosen its belt with fiscal stimulus to offset the demand contraction, but it has to be temporary. it has to go back the ot
Jan 8, 2013 4:00pm EST
you can like close down the department of education and justice and make your social security payment and pay your vet rarngs not the military. >> unreal. >> different ways to work, $270 billion coming in and if you get rid of the deficit spending, we can service the debt and keep parts of the government open. >> right. >> but none of it is going to be pretty. >> if it's so easy to close down agencies, why do they exist? i'll leave you with that. thanks to both of you. placing his bet on a new tablet. fittingly they are doing it in business. the head of hewlett-packard's computer business will be with me from the electronics show and why this will be different than past attempts which did not work out for hewlett-packard. up next, pays to watch the "closing bell." herb greenberg predicted price matching would be made a year-round event. herb will be around to tell us what happens next. you'll want to listen to this. stay with us. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this th
Jan 11, 2013 4:00pm EST
comes to the individual movers, apollo group, the for-profit education, one of the biggest losers of the week, shares down nearly 13%. similarly j.c. penney getting another downgrade today, this time from ubs. polling shares down and also one of the biggest losers for the week, but it wasn't all negative, and it certainly wasn't all predictable. take a look at the best buy chart for the week, particularly today. the consumer electronics retailer announcing holiday sales not great but not as feared. some thinking that some of that turnaround might be starting to take shape. i don't know. we've got a ways to go on this one, too, i think, and then celgene, one of the week's biggest winners. positive news out of that company garnering some upgrades as well. maria, back to you. >> security, thanks so much. we'll take a short break and then the first full trading week of the year is in the books. much more ahead on this busy edition of the "closing bell." our market pros will help us prepare for the wave of market earnings next week and the flu is sweeping the country. one of the top vacci
Jan 7, 2013 4:00pm EST
reward perspective, like health care and transportation, like housing and education offer a lot of value with not a lot of risk. >> so tell me how the fed plays into all of this, peter. there was all that noise last week about the division among fed members on how long the stimulus program should continue or will continue. if rates stay low and they don't fall any further, what's the impact of the growth in the muni bond market? how does that play into it? >> that's a great question. that's one we're talking about here as well. i think it's important to realize that the fed was only beginning to talk about having a debate or a discussion about removing that qe. so they've been anchoring on the long end of the market. which has kept rates from rising dramatically. i think that's the case for the foreseeable future. we don't see that removed any time soon. some of the excess in the economy, muni rates follow treasuries to some degree. we tend to be less volatile. muni rates rise to a lesser degree. we think given the fact rates have a bit of a ceiling on them and won't go much higher
Search Results 0 to 3 of about 4